JW Asset Management LLC Buys 63,000 Shares of Robinhood Markets, Inc. $HOOD

JW Asset Management LLC raised its stake in Robinhood Markets, Inc. (NASDAQ:HOOD) by 153.7% in the 2nd quarter, HoldingsChannel reports. The fund owned 104,000 shares of the company’s stock after buying an additional 63,000 shares during the quarter. Robinhood Markets accounts for about 4.8% of JW Asset Management LLC’s holdings, making the stock its 3rd biggest holding. JW Asset Management LLC’s holdings in Robinhood Markets were worth $9,738,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of HOOD. Empowered Funds LLC lifted its position in shares of Robinhood Markets by 23.6% during the second quarter. Empowered Funds LLC now owns 61,657 shares of the company’s stock worth $5,773,000 after purchasing an additional 11,787 shares in the last quarter. Vanguard Group Inc. raised its position in Robinhood Markets by 1.8% in the 2nd quarter. Vanguard Group Inc. now owns 75,612,131 shares of the company’s stock worth $7,079,564,000 after purchasing an additional 1,371,051 shares during the last quarter. Nomura Asset Management Co. Ltd. raised its position in Robinhood Markets by 24.7% in the 2nd quarter. Nomura Asset Management Co. Ltd. now owns 223,529 shares of the company’s stock worth $20,929,000 after purchasing an additional 44,227 shares during the last quarter. Sierra Capital LLC acquired a new position in Robinhood Markets during the 2nd quarter worth $648,000. Finally, Westpac Banking Corp bought a new position in Robinhood Markets in the 2nd quarter valued at $234,000. 93.27% of the stock is owned by institutional investors.

Insider Activity

In other news, Director Baiju Bhatt sold 1,330,000 shares of the company’s stock in a transaction that occurred on Friday, November 7th. The stock was sold at an average price of $128.47, for a total transaction of $170,865,100.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Daniel Martin Gallagher, Jr. sold 25,000 shares of the stock in a transaction that occurred on Friday, October 3rd. The shares were sold at an average price of $148.34, for a total value of $3,708,500.00. Following the completion of the sale, the insider directly owned 565,949 shares of the company’s stock, valued at approximately $83,952,874.66. The trade was a 4.23% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 4,297,404 shares of company stock worth $529,026,559. Corporate insiders own 19.95% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on HOOD shares. Weiss Ratings restated a “hold (c+)” rating on shares of Robinhood Markets in a research report on Thursday. KeyCorp lifted their price objective on shares of Robinhood Markets from $135.00 to $155.00 and gave the stock an “overweight” rating in a research note on Friday, October 31st. Barclays boosted their target price on Robinhood Markets from $162.00 to $168.00 and gave the company an “overweight” rating in a research note on Thursday, November 6th. Citigroup increased their price objective on shares of Robinhood Markets from $120.00 to $135.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 23rd. Finally, Piper Sandler restated an “overweight” rating and set a $140.00 price objective (up from $120.00) on shares of Robinhood Markets in a report on Tuesday, September 23rd. Fifteen equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $132.65.

Robinhood Markets Price Performance

Shares of NASDAQ:HOOD opened at $115.97 on Tuesday. The company’s 50-day moving average price is $132.78 and its two-hundred day moving average price is $103.64. Robinhood Markets, Inc. has a one year low of $29.66 and a one year high of $153.86. The stock has a market capitalization of $104.28 billion, a PE ratio of 48.12, a price-to-earnings-growth ratio of 2.80 and a beta of 2.42.

Robinhood Markets (NASDAQ:HOOD) last announced its quarterly earnings data on Wednesday, November 5th. The company reported $0.61 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.20. The company had revenue of $1.27 billion during the quarter, compared to analysts’ expectations of $1.15 billion. Robinhood Markets had a return on equity of 21.74% and a net margin of 52.19%.Robinhood Markets’s revenue for the quarter was up 100.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.17 EPS. On average, analysts anticipate that Robinhood Markets, Inc. will post 1.35 earnings per share for the current fiscal year.

Robinhood Markets Company Profile

Robinhood Markets, Inc operates financial services platform in the United States. Its platform allows users to invest in stocks, exchange-traded funds (ETFs), American depository receipts, options, gold, and cryptocurrencies. The company offers fractional trading, recurring investments, fully-paid securities lending, access to investing on margin, cash sweep, instant withdrawals, retirement program, around-the-clock trading, and initial public offerings participation services.